The Insurance Authority, in partnership with the Financial Academy, has launched the ‘Actuarial Science Skills Accelerator’ program to develop and empower Saudi talent in actuarial science, strengthen workforce readiness, and expand access to internationally accredited professional pathways within the Kingdom’s insurance sector.
The Actuarial Science Skills Accelerator initiative is designed to enhance the competitiveness of Saudi actuaries in the labor market while creating high-quality career opportunities in one of the most specialized disciplines in the insurance industry. The program supports the broader development of national capabilities and aligns with ongoing efforts to build a highly skilled workforce capable of meeting the sector’s evolving needs.
According to the Insurance Authority, the Actuarial Science Skills Accelerator program aims to prepare national talent to excel in actuarial science by equipping participants with the technical and professional skills required to support the growth and sustainability of the insurance sector. It seeks to align workforce competencies with market demands and regulatory requirements while establishing a structured long-term career pathway that progresses from entry-level qualifications to fellowship status.
The Actuarial Science Skills Accelerator program also focuses on strengthening expertise in key actuarial disciplines, including modeling, applied statistics, financial mathematics, risk management, and insurance applications. These competencies are considered essential to supporting the insurance sector’s operational effectiveness and long-term development.
The authority stated that the Society of Actuaries (SOA) Exam (P) Preparatory Program will begin on June 22, while the Institute and Faculty of Actuaries (IFoA) Exam (CB1) Preparatory Program will commence on June 16.
The Actuarial Science Skills Accelerator program is structured to support participants as they advance through professional certification pathways offered by the Society of Actuaries (SOA) and the Institute and Faculty of Actuaries (IFoA). It provides a comprehensive training framework and educational resources designed to build the knowledge base and professional foundations necessary to pass actuarial examinations and progress within the actuarial profession.
The initiative forms part of the Insurance Authority’s ongoing efforts to develop national capabilities in technical insurance specializations, in line with the objectives of the Human Capability Development Program (HCDP), one of the key programs under the National Insurance Strategy (NIS).
The National Insurance Strategy aims to generate more than 21,000 jobs by 2030 while developing a pipeline of specialized national talent to support the Kingdom’s growing insurance industry.
The program also contributes to strengthening sector capabilities, enhancing operational efficiency, and supporting the goals of the Financial Sector Development Program, a central pillar of Saudi Vision 2030 aimed at advancing the Kingdom’s financial services ecosystem and economic diversification agenda.
